Path Dependence and the Economic Process

  • Adolfo FigueroaEmail author


Unified theory of capitalism assumes that the legacy of the European colonial system is an essential element for understanding the economic process in today’s capitalist system. In particular, the unified theory assumes that social heterogeneity under capitalism comes from the legacy of the European colonial system. This essay seeks to elaborate further on this assumption and on its implications.


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Economics DepartmentPontifical Catholic University of PeruLima, LimaPeru

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